Forex Robots Factory is a website that aims to show how Expert Advisors (EAs) perform on a live account. It provides various tools for analyzing the robots. Here’s a review of the site.
The site currently hosts 42 robots. New ones can be suggested through the “Report a Robot” page. Note that not all the authors of the robots permit uploading their robots to FRF’s comparison site. They probably have something to hide.
At the time of writing, the best robot, called “Godfather 2″ made a weekly profit of 30%. The other ones in the Top 5 list made 4-6%. These are only the headline results. Their proprietary technology, named RTx2, provides lots of data: performance trend, profit and loss in dollars or percent (by different time frames), win percentage, a take profit / stop loss ration and more details.
It’s also interesting to see the raw transactions for each robot, made on an account in Alpari UK and some historical backtesting figures. There’s also a description for each robot and its method.
There are three apparent sources of income for Forex Robots Factory. Advertisements for forex brokers, forex education providers, etc. are on the site. The second source is affiliate links – if you’re interested in buying a robot, you go through ClickBank, and FRF shares the revenue. The third is probably a deal with Alpari UK, that provides the accounts and is highlighted on the site.
In his review of FRF, Michael Greenberg notes that the results of each robot can vary from broker to broker. Indeed, spreads, commission and execution speed vary between brokers. These differences could turn around the results of scalping robots, but will have a smaller effect on long term ones.
The site is very well designed – the colors are bright, the data is clear and navigation is easy. In addition to robot comparison, Forex Robots Factory also has a section for manual strategies. All the reviews for the strategies contain affiliate links. As I’ve written in my article about forex broker reviews, this might seem suspicious.
In addition, the site has a basic education section, and free MT4 indicators – a useful resource indeed.
All in all, Forex Robots Factory looks like a nice initiative that can be a good resource for robot comparison. As far as I know, it’s currently the only of its kind. Another comparison site, that uses another broker would benefit successful robots – as they would receive more than one opinion.
Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.